110-20260410100007 Hattiesburg

The Hattiesburg Public School District in Greene County, Mississippi is soliciting competitive bids for depository banking services through Request for Proposal 110-20260410100007, with a submission deadline of April 23, 2026. The procurement seeks a qualified financial institution to serve as the official depository for the school district's funds for a one-year period beginning July 1 and continuing thereafter until new arrangements are made in accordance with Mississippi law. Bidding financial institutions must meet specific regulatory requirements, including FDIC insurance coverage, maintenance of a primary capital-to-assets ratio of at least 5.5 percent as of June 30, and operation of physical offices and employees within Mississippi. The successful vendor must pledge eligible collateral securities equal to at least 105 percent of the maximum deposit amount exclusive of FDIC-insured portions, or alternatively secure membership in a public funds guaranty pool as authorized under Mississippi Code. Required banking services include monthly statements delivered within five business days, same-day ledger credit for deposits, wire transfer capabilities, payroll direct deposit functionality, internet banking access, cash management services, and various transaction and account management services, with most provided at no charge or minimal fees based on account activity. The school district's account data indicates an average monthly ledger balance of $43,887,320.69 across 12 DDA checking accounts. Bidders must specify pricing terms for both fixed and variable interest rates on deposit accounts, with variable rates calculated based on the prior month-end U.S. Target Federal Funds Rate plus or minus basis points. All proposals should be submitted to the Hattiesburg Public School District Business Office, Attention: Jennifer Clanton, CFO, 301 Mamie Street, Hattiesburg, MS 39401.

The procurement documents do not identify set-aside designations, restrictions on bidding entities, or preferences for disadvantaged enterprises, indicating this is an open competitive solicitation available to all qualified financial institutions meeting the stated regulatory and operational requirements. No incumbent vendors or current contractors are identified in the available procurement materials. The successful vendor must execute a Collateral Security Agreement compliant with FIRREA Section 1823(e), monitor monthly deposits to ensure adequate security coverage, provide annual compliance reports to the district, and maintain readiness to offer enhanced cash management and investment advisory services upon the district's request. While specific award values or budget ranges are not explicitly stated in the procurement documentation, the district's average monthly ledger balance of approximately $43.9 million provides context for the scale of deposits the selected institution will manage and the corresponding collateral requirements.